As an aspiring entrepreneur, you will want to launch your startup in a fertile environment with ample funding and quality of life (for good employees and good prospects likely seek out this characteristic in determining where they will put down their roots).
To gauge the health of small-business lending in each city, NerdWallet analyzed business loans made by community banks in 2012. The researchers also considered business friendliness and assessed the local economies based on the average income of residents, the unemployment rate and the cost of living. Education levels and population growth measured available talent. More information can be found here.
#5 – Oklahoma City, Oklahoma
- Small-business lending in 2012: $118.5 million
- Businesses per 100 residents: 10.3
- Average income: $25,450
- Population growth rate: 2.1%
#4 – Tulsa, Oklahoma
- Small-business lending in 2012: $125.5 million
- Businesses per 100 residents: 10.7
- Average income: $26,727
- Population growth rate: 1.2%
#3 – Austin, Texas
- Small-business lending in 2012: $28.4 million
- Businesses per 100 residents: 10.8
- Average income: $31,170
- Population growth rate: 3.8%
#2 – Raleigh, North Carolina
- Small-business lending in 2012: $43.9 million
- Businesses per 100 residents: 10.5
- Average income: $30,377
- Population growth rate: 3.1%
#1 – Atlanta, Goergia
- Small-business lending in 2012: $62.2 million
- Businesses per 100 residents: 9.8
- Average income: $35,884
- Population growth rate: 3%
